Meitu, often referred to as the “Asian MicroStrategy,” has made headlines by fully exiting its cryptocurrency holdings. The Chinese selfie app developer, headquartered in Xiamen, began divesting its crypto assets in November and confirmed on Dec. 4 that it no longer holds Bitcoin or Ethereum. Over three years of holding, the company turned its $100 million crypto investment—comprising 31,000 Ether and 940 Bitcoin—into $180 million, marking an 80% profit.
The proceeds from the sale will be directed toward business expansion, working capital, and special dividend distributions to shareholders, presenting a substantial reward to investors. This decision contrasts with broader trends in Asia, where some companies continue to embrace crypto. For example, Japan’s Metaplanet, now taking on the “Asian MicroStrategy” mantle, has accumulated over 1,100 BTC. Similarly, Hong Kong-based Booya Interactive recently shifted its $49 million Ether portfolio to Bitcoin, signaling continued interest in the market.
Meitu’s choice to exit its cryptocurrency positions reflects a strategic pivot, focusing on traditional business operations and shareholder benefits. Meanwhile, other Asian firms remain bullish on crypto, underscoring the diverse strategies across the region.
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